In the Long-Run, an Increase in Aggregate Demand Increases the Price

question 107

True/False

In the long-run, an increase in aggregate demand increases the price level, but not real GDP.

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Definitions:

Hepatic Ducts

Ducts within the liver that convey bile to the gallbladder and duodenum.

Gallbladder

A small organ located under the liver that stores and concentrates bile, a digestive fluid produced by the liver.

Stores Bile

The gallbladder is the organ responsible for storing bile produced by the liver, releasing it into the small intestine to aid in digestion.

Secretin

A hormone secreted by the small intestine that stimulates the pancreas to release bicarbonate, neutralizing stomach acid.